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20121202
20121210
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. so yeah, it's going to hurt. >> the real cost of going over the "fiscal cliff." we break down what californians stand to lose if there is no deal. >> a new discovery impacting how breast cancer is treated. how tweaking the recommendation for a certain drug could save lives. >> and... ♪ [ music ] >> remembering a local legend. out every thethe music and legacy of dave brubeck. ,,,, ?f< administration will reject a budget deal that doesn't ine higher taxes for the wealtht rcent of americans. >>> treasury secretary timothy geithner said the obama administration will reject a budget deal that doesn't include higher taxes for the wealthiest 2% of americans. >> and the "fiscal cliff" deadline is now a day closer and still no deal between the president and republicans. political reporter grace lee is live in the newsroom with what this gridlock could cost californians. grace. >> reporter: well, liz, now we have some very real numbers that's what's at stake if we go over the "fiscal cliff." the daily democrat predicts that our state could lose $4.5 billion and lose about 200,000 jobs and
a gop counter offer in the latest round of "fiscal cliff" negotiations. the republican proposal includes cutting $900 billion from medicare and reforming social security. it would also raise $800 billion in tax reforms. but the white house says the offer still favors cutting taxes for the wealthy. >> us this far, republican leaders have been adamant that they don't believe rates ought to go up on the top 2% of wealthiest americans. the american people overwhelmingly disagree. >> if the president and republicans can't come to a compromise, everyone's taxes will go up january 1. government spending will be slashed. >>> the dow lost 60. the nasdaq was down 8, s&p down 7. >>> the storms that blew through the bay area brought down many trees and that's meant a hard lesson for homeowners who were cleaning up today. cbs 5 consumerwatch reporter julie watts explains your insurance doesn't always cover fallen trees. julie. >> reporter: something many are likely learning following this weekend's storm. we received photos from across the bay area of downed trees on homes and cars, and they provide
of the fiscal cliff fast approaching, only 25 days, going over it threatens to ruin the holidays for millions of americans. danielle nottingham says republicans are waiting for the president to make the next move. >> vice president joe biden at lunch with middle class americans who will take a $200,000 hit if their tax cuts expire. >> this is no time to add any additional burden on middle class people. >> while the white house is pushing congress to renew middle class tax cuts, the president says he won't take any deal that won't extend tax cuts for the wealthiest americans. >> it will take 15 minutes from the time the decision is made by the speaker of the house to pass and make permanent middle class tax cut. >> reporter: both parties are leaving the talks to president obama and house speaker john boehner. here on capital hill, boehner says he is still waiting for the white house to respond to the latest gop proposal. >> this isn't a progress report because there's no progress to report. >> republicans are offering to extend tax breaks for all americans, close tax loopholes and cut nearly $
of governors met with the president and congress to make a deal on the "fiscal cliff." they could lose funding if there's not a plan to stop automatic cuts. the dow was down 14 closing below 13,000. the nasdaq was down 5.5 points. the s&p 500 lost 2. >>> it's pay back time for a bay area politician accused of using his procurement card like a personal slush fund. santa clara county board president george shirakawa has been ordered to immediately repay nearly $13,000 in charges. that's after a scathing internal audit found he had been billing taxpayers for things like golf fees and rental car upgrades. shirakawa says he will return most of the money but is challenging some of the charges. >>> on the bay area watch san jose police are looking for the owners of 300 marijuana plants found this morning. it started as a robbery call on the east side of town. but when the officers got to this house, they found an elaborate grow operation but nobody living there. the estimated street value of the pot is about $125,000. >>> a house fire in petaluma lit up the night when firefighters arrived smoke and f
talks, some traveling and still a chance our country could go over the so-called "fiscal cliff." top economists showed up at the capital today for further talks about the impact of tax increases and government spending cuts on the middle class. from a home in virginia president obama sat with a middle class family he says will be hit hard if congress doesn't extend middle class tax cuts. >> for them to be burden unthis isly because democrats and republicans aren't coming together to solve this problem gives you a sense of the costs involved in very personal terms. >> republicans are standing behind their counter-offer to close tax loopholes and limit some deductions. they say the president needs to deliver a new plan they can agree on before the january 1 deadline. >>> stocks inched up as investors kept and eye on washington. the dow was up around 40, nasdaq up 16, s&p saw a 5 point increase. >>> the dungeness crab season has hit a snag. local crabbers are refusing to fish for the northern california delicacy after a new price fight with the wholesalers. the cbs 5 reporter anne makov
Search Results 0 to 4 of about 5